Nagarro Gains as Jefferies Sees KPMG Audit Restoring Confidence

Nagarro gains as much as 3.4% after the German IT services firm published delayed audited results for the full year together with first-quarter numbers. Jefferies says having the first-time audit from KPMG should build market confidence and support the shares.

• Analysts led by Martin Comtesse (buy) note higher adjusted Ebitda and the first-time proposal of a dividend distribution of €1 per share, while the firm’s guidance assumes meaningful recovery throughout the year
• They say 1Q performance was “lackluster,” though against very tough prior year comparisons
• NOTE: April 28, Nagarro Slumps as Firm Delays Publication of Full-Year Results
• View the results: ...